Trump's better election odds after debate are already moving markets

Category: Finance

Information on credit cards, loans, banking, mortgages, insurance, credit monitoring, personal finance, small business, taxes, and help for low credit scores.

Keywords: Credit Cards, Loans, Banking, Mortgages, Insurance, Credit Monitoring, Personal Finance, Small Business, Taxes, Low Credit Scores, Investing

Source: CNBC

Update At: 7/16/2024

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Economic calendar in Asia Tuesday, August 6, 2024 - RBA day | Forexlive

The Reserve Bank of Australia is expected to keep its cash rate unchanged in the upcoming meeting, with a statement likely reiterating concerns about inflation risks despite recent data showing a slight softening in inflation rates.

Forexlive

Japan's benchmark Nikkei 225 index soars more than 10% after plunging a day earlier

Japan's Nikkei 225 index surged 10.2% after a significant drop, with major companies like Toyota and Tokyo Electron seeing substantial gains. The market's volatility follows a recent interest rate hike by the Bank of Japan, prompting traders to adjust their positions.

The Associated Press

Nvidia Stock (NASDAQ:NVDA): Options Traders Are Taking the Contrarian Bet

Wall Street analysts are bullish on Nvidia (NVDA), predicting significant growth due to the generative AI ecosystem. However, options traders are taking a contrarian stance, placing bearish bets against the stock. Despite a strong consensus rating from analysts, the recent decline in stock price and negative options sentiment suggest potential for further downside. Investors may consider waiting for a clearer market direction before making moves.

Yahoo Finance

1 Wall Street Firm Thinks Nvidia Stock Is Going to $144. Is It a Buy?

Nvidia's upcoming earnings report on Aug. 28 is highly anticipated following a year of triple-digit growth, with shares up 116% year to date. Analysts, including Morgan Stanley, maintain a bullish outlook with a price target of $144. Despite strong performance in its data center business and significant year-over-year increases in revenue and earnings per share, investors may consider waiting until after the earnings report due to potential market volatility and increasing competition in the chip industry.

Motley Fool

Nikkei closes with record point gain after historic loss

The Nikkei stock index experienced its largest single-day point gain in history, rising over 3,200 points to close at 34,675.46, following a significant drop the previous day. The rebound was supported by a weaker yen and improved sentiment after better-than-expected U.S. service sector data. All industry categories on the Prime Market gained, with marine transportation, rubber products, and consumer credit leading the way. Despite the recovery, concerns remain about potential future declines if the U.S. Federal Reserve signals a delay in interest rate cuts.

Kyodo News Plus

Nvidia shares tank as 'Magnificent 7' stocks lose more than $650 billion in market cap

Nvidia shares dropped over 6% amid a significant market decline affecting the 'Magnificent Seven' stocks, which collectively lost $1.3 trillion in market cap. Alphabet faced antitrust issues, while Apple saw a drop after Berkshire Hathaway reduced its stake. Nvidia's upcoming AI chip delays could impact sales to major clients like Microsoft and Google, contributing to its stock decline.

Yahoo Finance

Schwab, Fidelity, other online trading brokerages appear to go dark during huge market sell-off

Several online brokerage firms, including Charles Schwab, Fidelity, and Vanguard, experienced significant outages during a major stock market sell-off in 2024, affecting thousands of users who reported issues accessing their accounts. Schwab acknowledged the problem on social media, while Fidelity confirmed that their issues were resolved. Vanguard did not comment on the situation.

KABC-TV

Warren Buffett Is Selling Apple Stock and Buying This Magnificent Megacap Stock Instead

Warren Buffett has reduced Berkshire Hathaway's stake in Apple by 55% in recent quarters, despite praising the company as a superior business. Apple's recent financial results showed a revenue increase but declining sales in China, raising concerns about its future growth. Meanwhile, Berkshire Hathaway reported solid earnings, particularly in its insurance segment, and Buffett continues to believe in the company's undervaluation, suggesting it remains a defensive investment option.

Motley Fool

See why mortgage rates are plunging

The average rate on the 30-year fixed mortgage has decreased to 6.4%, the lowest in over a year, following a weaker employment report that caused bond yields to fall. This reduction in rates has improved housing affordability, lowering monthly payments for buyers.

Greater Baton Rouge Business Report

Gold Price 6 August 2024

Gold prices have risen to £1,892.46 per ounce, marking a 0.59% increase from the previous day. Investors view gold as a safe-haven asset, particularly during economic downturns. Various investment options include physical gold (bars, coins, jewelry) and indirect investments (gold shares, funds). While gold can hedge against inflation, it is volatile and does not generate income. The decision to invest in gold should consider market conditions and personal financial goals.

Forbes